Techmeme
November 16, 2022, 6:50 PM

Top News

Reuters:
Sources reveal FTX and Alameda's dubious financial practices, like showing investors some of the same assets on their books despite claiming separate operations  —  As customers withdrew billions of dollars from crypto exchange FTX one frantic Sunday this month, founder Sam Bankman-Fried worked …
Wall Street Journal:
Former employees detail the chaos after FTX's collapse: mass resignations, learning news from Twitter and the media, equity compensation evaporating, and more  —  Many say they learned of crypto exchange's deteriorating situation through media and lost access to their funds  —  How FTX Went Bankrupt: What Went Wrong
Milky Eggs:
Everything we know about FTX's collapse: losses likely exceed $15B, trades became increasingly risky, SBF was erratic, rash, and relied on stimulants, and more  —  If you want to read a poorly researched fluff piece about Sam Bankman-Fried, feel free to go to the New York Times (PDF).
Sidhartha Shukla / Bloomberg:
Washington Post:
Elon Musk emails Twitter employees an ultimatum: commit to a new “hardcore” Twitter by 5pm ET on November 17 or leave with three months severance  —  It comes as Musk's first major feature, Twitter Blue Verified, was halted while the company probes issues that arose from its launch.
Casey Newton / @caseynewton:
Nelson Wang / CoinDesk:
Genesis' crypto lending unit, which had $2.8B in Q3 2022 active loans, halts redemptions and new loan originations; trading and custody services are unaffected  —  The unit, known as Genesis Global Capital, serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022.
Peter White / Deadline:
Apple plans to launch its Major League Soccer Season Pass on February 1 for $15/month or $99/season and $13/month or $79/season for Apple TV+ subscribers  —  Apple has unveiled more plans for its launch of Major League Soccer (MLS).  —  The streamer has revealed the pricing and launch details …
Stephanie Condon / ZDNet:
Nvidia and Microsoft sign a multiyear deal to build an AI supercomputer in the cloud, making Azure the first public cloud to incorporate Nvidia's full AI stack  —  Nvidia and Microsoft announced Wednesday a multi-year collaboration to build an AI supercomputer in the cloud, adding tens of thousands of Nvidia GPUs to Microsoft Azure.
Colin Wilhelm / The Block:
The US House Financial Services Committee plans to hold a hearing in December on FTX's collapse and invites Sam Bankman-Fried, Alameda, Binance, and others  —  - The House Financial Services Committee will hold a hearing on FTX in December.  — In a joint statement announcing the hearing …
Oliver Knight / CoinDesk:
Audit by JS Held: Terraform Labs and Luna Foundation Guard tried to defend the UST stablecoin in May 2022 by spending $613M and $2.8B in crypto, respectively  —  Terraform Labs founder Do Kwon dismissed similarities with the collapse of FTX.  —  Luna Foundation Guard (LFG) …
CNBC:
Despite Crypto.com CEO Kris Marszalek's assurances, customers worry about the exchange's solvency; Crypto.com's CRO token has fallen nearly 40% in the past week  —  - Crypto.com CEO Kris Marszalek has taken to Twitter, YouTube and the airwaves to try to reassure customers that their deposits …
Financial Times:
The UK blocks the sale of Newport Wafer Fab to Nexperia, owned by China's Wingtech, on national security grounds and orders Nexperia to divest 86% of Newport  —  Months of wrangling over chipmaker sees deal with China-owned company thwarted on national security grounds
Ashley Capoot / CNBC:
Cisco reports Q1 revenue up 6% YoY to $13.6B, vs. $13.3B est., including Secure, Agile Networks up 12% YoY to $6.68B, and increases its FY 2023 revenue guidance  —  - Cisco reported fiscal first-quarter results on Wednesday that beat analysts' estimates on top and bottom lines.

Sponsor Posts

Meta:
Open Source AI: Available to all, not just the few  —  Meta's open source AI enables small businesses, start-ups, students, researchers and more to download and build with our models at no cost.
Zoho:
How remote support can make your Christmas stress-free  —  As Christmas approaches, the air fills with the anticipation of joy, family gatherings, and gift-giving.  While the season brings immense happiness …
Genesys:
Executive Insights: The Era of Contact Center AI Copilots  —  How AI copilots are transforming customer experience and agent performance.
Tribe AI:
Build AI products that matter  —  Tribe AI helps organizations rapidly deploy AI solutions that have real business impact.  We bring together world class AI talent and tooling to drive differentiated results.
Techmeme Ride Home:
(BNS) Calvin And Hobbes - With Daniel Kibblesmith
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe via Apple Podcasts, Spotify, or RSS.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 6:50 PM ET, November 16, 2022.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

More News

Earlier Picks

Jay Peters / The Verge:
Allison Johnson / The Verge: